FOSTER + PARTNERS LIMITED
Company number: 01644989
Reporting period:
1 May 2024 to 31 October 2024
Report filed on:
28 November 2024
Approved by:
Chris Williams
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 74%
- in 31 to 60 days: 22%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 31%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
Answer not provided
Standard payment terms
Under the company's standard payment terms we commit to paying all undisputed sums properly due to third party suppliers within 30 days of receipt of a valid invoice by the central finance team with the following exceptions: a) some suppliers have 45 days standard terms and b) some have 7 or 15 day terms (the latter typically postal / courier services). The company normally settles invoices on standard terms however variations to these terms do exist based on agreements with certain suppliers.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
45 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Disputes should be directed to the Accounts Payable team (accountspayable@fosterandpartners.com) or to the relevant commercial contact within the company. We aim to resolve disputes quickly and efficiently.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No